HPC Follower
13 Mar 2016
Negotiations ongoing Whilst the price of zinc continues to strengthen and the IFC reduce their ZOX shareholding, others seem to be growing their shares - notably the Morgan Stanley specialist group in the UK.I can't yet see how this 2nd plant in Vietnam can proceed without some equity placement alongside off-take agreements and possibly some local government support for their steel industry to reduce hazardous waste and water pollution; but it would be good if the placement was nearer 5p a share than 1p. The lower the amount required and the higher the placement price, the better for existing shareholders.The ZOX board have every incentive to broker a good deal overall...
Ripley94
11 Mar 2016
Re: Placing Shares Might get a meal .lol
muscati
26 Feb 2016
Re: Vietnam [link]
muscati
19 Feb 2016
Re: Vietnam-Saigon Times [link] UK firm: BR-VT good to invest in furnace dust treatment projectVan NamThursday, Feb 18,2016,21
7 (GMT+7)A steel scrap site at a steel mill in Ba Ria-Vung Tau Province - PHOTO: VAN NAMHCMC – The UK’s Zincox Resources PLC said Ba Ria-Vung Tau (BR-VT) Province is a good destination for it to develop an arc furnace dust recycling facility worth US$115 million.The company got in-principle approval for the project with an annual processing capacity of 100,000 tons at Phu My 3 Industrial Park in the southern province on Tuesday.According to Zincox Resources, industrial parks in Phu My of Ba Ria-Vung Tau are home to many steel mills, so it is an appropriate place for the company to build a plant to treat electric arc furnace dust. These steel mills account for more than two-thirds of Vietnam’s steel production.Therefore, the investment project of Zincox Resources is necessary as the province’s steel industry needs an appropriate measure to recycle electric arc furnace dust emitted from steel mills.Like other recycling facilities of Zincox Resources around the world, the output of the facility in Ba Ria-Vung Tau is zinc oxide of high purity, which can be used by the rubber and ceramics industries.It will take Zincox Resources a couple of months to negotiate with local steel mills to ensure long-term supplies for the facility as well as prepare an environment impact assessment.Zincox Resources expects to provide steel mills in Ba Ria-Vung Tau with a good dust recycling service and rubber and tire producers with more zinc oxide supply.According to experts, Vietnam’s steel industry is not environmentally sustainable as dust emitted from electric arc furnace has not been recycled effectively. Zinc oxide contained in each car tire or rubber product accounts for 2-5%.Seven operational steel mills in Ba Ria-Vung Tau are operated by Southern Steel, Fuco, Pomina 2, Pomina 3, Dong Tien, Posco Vina and Vina Kyoei. These facilities have a combined capacity of about five million tons of steel ingots per year.Environment experts estimated with millions of tons of steel produced, over 800 tons of dust and slag are emitted a day.Le Tan Cuong, head of environmental protection in Ba Ria-Vung Tau, told the Daily on February 17 that emissions from steel mills are hazardous.The Ministry of Natural Resources and Environment has permitted three environmental firms specializing in treating hazardous waste in the northern provinces of Thai Nguyen and Hai Duong to collect and transport dust from steel mills in Ba Ria-Vung Tau to the north for treatment, he added.Back in 2014, the government of Ba Ria-Vung Tau decided not to call for investment in steel production, particularly construction steel and steel ingots, and seven other sectors as they pose a high risk of water pollution.
HPC Follower
17 Feb 2016
Re: Vietnam Well spotted muscati and very encouraging... sjnce this is also likely to attract "local to the plant" investment and clears a major potential hurdle; being a "green" project will help greatly too. If the "equity" investment can then be kept relatively low through project finance (where the IDC, a major ZOX shareholder) have multiple reasons to be be supportive) and off-take agreements, this Vietnam hosted project could be the one that gives ZOX a good future. Given the lessons learnt on the South Korea based plant, and the extra process to improve the zinc product for sale, within three years ZOX could be making money again should the price of zinc recover to any reasonable level above $2,000 a tonne..
muscati
17 Feb 2016
Vietnam Ba Ria-Vung Tau approves projects [link] Hong Linh , Secretary of the Provincial Party Committee grants investment licences to five new projects. — Photo VNABA RIA - VUNG TAU (VNS) — The southern province of Ba Ria-Vung Tau yesterday granted investment licences to five new projects worth a combined total of about $160 million.Among the projects are a $115 million steel mill emissions processing facility, developed by Zincox Resources PLC from the United Kingdom in the Phu My 3 Industrial Zone (IZ), and an $18.3 million animal feed manufacturing plant, which is financed by the South Korean CJ Cheiljedang Corporation in the My Xuan B1-Tien Hung IZ.Other projects include the IREX Energy JSC-invested renewable energy production complex, worth more than $17 million, and a $6 million warehousing and logistics project funded by the South Logistics JSC. Both projects will be constructed in the Phu My 1 IZ.The last project is an expansion of the Duc Hanh Port in Tan Phuoc Commune, Tan Thanh District, which has a total investment of $3.6 million. It is financed by the Duc Hanh Construction Transport Corporation.In his speech at the ceremony, Nguyen Hong Linh, Secretary of the Provincial Party Committee, said Ba Ria-Vung Tau is striving to attract projects using environment-friendly and energy-efficient technologies and equipment as well as other means to provide high-value added products.The province is also calling on domestic and foreign investors to pump investment into other sectors such as transport infrastructure, logistics and tourism."Investment in hi-tech agriculture, trade, healthcare and education are also welcome," he said.Local authorities would continue to speed up administrative reforms and improve the province's investment climate as move to better facilitate investors, Linh said, adding that the province would publish the list of projects calling for investment in the near future.In 2015, the locality attracted a combined investment capital of $740 million from 32 domestic and foreign-invested projects.As of last year, it was home to 295 foreign-invested projects valued at about $27 billion, and 434 domestically-funded ones worth more than $10.6 billion.The province aims to lure more than $1 billion in investment this year. — VNS
HPC Follower
08 Feb 2016
SR Global Fund LP buy 10 million shares SR Global Fund LP have increased their share of ZOX from 16.6% to over 20% by buying more than 10 million extra shares - probably in the placement plus some in the open market.They must be reasonably confident that ZOX can stay afloat.and get their 2nd plant built.
Ripley94
04 Feb 2016
Re: Placing Shares Might get a pint. lol
popes11
02 Feb 2016
Re: Placing Shares looks like i might of made the right move this time by not selling for packet of crisps lol========== ========== ========== ========== ========== ========== =========Exactly long term if things go well you may have enough for a Mas bar and a can of coke. But is it worth risky that for a lovely packet of salt n vinegar now? Good luck with it but I don't see the current board doing anything constructive with 200k.
Ripley94
02 Feb 2016
Re: Placing Shares Had written this one off as another AIM loser .looks like i might of made the right move this time by not selling for packet of crisps lol
HPC Follower
02 Feb 2016
Re: Placing Shares |They have stop taking wages and I assume the amount gained is enough to complete a formal proposal for another plant, with a lower break-even point in terms of the price of zinc.If they can get this done well, and the price of zinc recovers to build confidence, with off-take agreements for a lot of the zinc, some project finance and IDC bank support, the remaining equity portion may be palatable for the business to progress. It does seem likely, however, that any share offering may have to be near the 1p position again - having set the precedent today.The position today is much better than ZOX folding, as I doubt shareholders would have got much money back at all if this happened. It still might, but the directors wouldn't have contributed if there hadn't been some discussions with the interested parties about the project in principle and the likelihood they would sign up to their individual roles.It could now be quite a while before we hear more on this...
popes11
02 Feb 2016
Placing Shares 200k raised by placing 20m shares. I'm out the loop here but I assume none of current board are taking a wage. Either way 200k will last no time at all at the rate this mob burn cash.
HPC Follower
02 Feb 2016
News over-due... ZOX did state end-December that "The Board will announce its proposals in relation to these options as soon as practicable but in any event before the end of January."We are now in February and the zinc price has recovered to $1,648 per tonne as I write, so I can only assume, given the lack of another RNS, that negotiations are ongoing and close to decision points on whether to proceed or not. ZOX will, I am sure, prefer to be late reporting firm decisions rather than another RNS just to re-state the options as per the RNS in December.The recent change in NOMAD should help (in funding) as should the zinc price recovery... too late to keep the whole South Korean plant but perhaps enough for a new project to be justified post payment of debts through giving up 90% of the current plant.Finn Cap did hear complaints at the last AGM because they wouldn't allow the ZOX shares to be suspended ahead of the end-November "bad news" about the loan re-structuring and need for an extra $5 million by end December 2015 - when the SP was above 6p. When two major shareholders were then allowed to sell out, the ZOX share price naturally crashed and turned sentiment against funding the $5m - especially at a share price around 2p (or worse) which would have decimated the value for present shareholders. In Australia, company suspension in such circumstances would be the norm, but in the UK the norm is to keep trading open as far as practicable.On the plus side, if ZOX survive, PIs who bought significant holdings of ZOX shares very cheaply (and still can) to average down may do well in the longer term, but there remains a real risk at present that ZOX will go out of business.The next few weeks will be critical to the future of ZOX and, I guess, we will hear more in an RNS quite soon now. I would have thought that Korean Zinc and the IDC Bank (the largest shareholder of ZOX) would both be helping ZOX best they can right now - the drop in the price of zinc during 2nd half of 2015 coming at about the worse time possible for ZOX..
juyamah
11 Jan 2016
Re: thanks It's never over 'till its over, IF they can raise the cash to try again then as HPC Follower says it might just be a different ball game, That's the Gamble now....What happens if Korea Zinc decide to go ahead with KRP-2 and ask ZOX to stump up 10% to retain an interest in the enlarged operation? could they raise the required $8m (approx.) would investors be willing to invest in a project that they have no control over?I suspect KRP-2 is the most likely next move and that will either set ZOX back on the road or see its ultimate demise, a successful KRP-2 will prove the technology and make future plants look much more attractive to investors.Its all pure speculation but to do anything other than hold now makes no sense to me.
Madoff Jnr
11 Jan 2016
thanks for link......oh well win some lose some I suppose...!Madoff j
